Navigating an Overvalued Market, Part 2
In yesterday's column, I outlined why I believed the market is overdue for a 5% to 8% pull back. I don't see a major correction as Federal Reserve policies are still extraordinary supportive.
However, the shocks to consumer spending (payroll tax holiday expiration and high gas prices) and earnings estimates that have come down for 2013 even as the market has rallied over the last year are two large concerns. I believe the market has not factored either in fully yet....683 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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